March corn was up 8 3/4 cents late in the overnight session. Outside markets look slightly supportive but quiet today. The strong close yesterday, a firm cash market tone in the US, higher China corn values and expectations for firm export demand helped to drive the market higher overnight. The wheat market is finding support from a poor weather forecast for China and US winter wheat areas. The EU has temporarily suspended its import duties on feed wheat and barley. This might be seen as a positive for corn, as it could soak up more competing feedgrains. The extremely tight outlook for corn, with US ending stocks at just 18 days worth of supply forecasted by September 1st, the end of the 2010/11 season, has helped provide underlying support. March corn closed unchanged on the session yesterday after trading in an 11 1/2 cent range. The market pushed moderately lower into the mid-session but remained inside of Tuesday's range. December corn pushed lower on the day into the midday and took out Tuesday's lows to move to the lowest level since January 31st, but it staged a rally in the afternoon, closed higher on the day and jumped back up above $6.00 overnight. A lack of aggressive long liquidation selling on the early break, a rally in soybean oil and energy markets and a break in the US dollar helped support the bounce off of the lows. Some of the bearish items pushing the market lower ealier were the Philippines buying 200,000 tonnes of feedwheat from Australia, which was seen as an indication of increased competition for corn, and South Korea passing on a tender to buy 55,000 tonnes of corn. Cash basis levels improved in the Midwest yesterday with talk of tight producer holdings. Ethanol production for the week ending February 11 averaged 893,000 barrels per day. This was down 0.78% from the previous week but up 7.20% from last year. It was the lowest total production (6.251 million barrels) since the first week of the year. Traders see weekly export sales, to be released before the opening today, near 950,000 tonnes, down from 1.216 million last week.